Dentists need to plan for the future

According to a new survey, many entering the dental profession are failing to make provision for later life.

The British Dental Association (BDA) has released the results of research which found that six per cent of associates have not made any provision for their pension, despite being entitled to access the NHS pension scheme.

The BDA questioned 141 associate members who have qualified over the past decade and found that 14% had opted-out of this scheme at some point, although around half had later re-joined.

Around a third of those surveyed said they were unaware or confused about the advantages of being in the scheme and around a quarter thought that signing up may actually pose problems for them in the future.

In light of their findings, the BDA has urged its members to give the issue their attention. It has also appealed to pensions agencies to provide sufficient information to all young dentists, ensuring that associates are clear from the start whether they are accessing the pension scheme.

Milsted Langdon’s head of Dental Services, David Jacobs, is a member of the National Association of Specialist Dental Accountants & Lawyers (NASDAL), meaning we are able to draw on a wealth of knowledge and expertise from accountants and lawyers around the country who, between them, act for over 5,000 dental clients in the UK. To find out how our specialist accountants for dentists can help you, please contact us.

Posted in Dentists.